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RULE §37.52 Use of a Universal Financial Assurance Mechanism for Multiple Facilities and Program Areas

Published: 2015

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(a) An owner or operator may use a universal mechanism to meet
the requirements of this chapter for multiple facilities permitted in multiple
program areas, provided the mechanism is allowed to be used in the program
areas represented. The amount of funds demonstrated by the universal mechanism
must be no less than the sum of funds that would be available if separate
mechanisms were established and maintained. The wording of the mechanisms
must be in a form satisfactory to the executive director. The available mechanisms
are those specified in this chapter, except that the financial test or corporate
guarantee may not be combined with other specified mechanisms and a standby
trust fund shall be required in certain circumstances. For liability coverage,
the owner or operator may not combine a financial test covering part of the
liability coverage requirement with a guarantee unless the financial statement
of the owner or operator is not consolidated with the financial statement
of the guarantor.
(b) A universal mechanism submitted to the executive director
shall include a list showing, for each facility covered by the mechanism:
the name, physical and mailing addresses of the facility, each program area
and permit number, the rules regulating the program under which the facility
is permitted, and the amount of funds demonstrated for each permit for closure,
post closure, corrective action, and liability. The anniversary date of the
universal mechanism is the date on which owners or operators shall make an
annual inflation adjustment for all facilities demonstrating through the universal
mechanism. In directing funds available through the universal mechanism for
any of the facilities covered by the mechanism, the executive director may
call on only the amount of funds designated for each permit for that facility,
unless the owner or operator agrees to the use of additional funds available
under the mechanism.
(c) An owner or operator who intends to use the financial test
or corporate guarantee as a universal mechanism, must certify the ability
to meet the financial test or corporate guarantee requirements for each of
the corresponding program areas for which the universal mechanism is intended
to cover.

Source Note: The provisions of this §37.52 adopted to be effective November 2, 1998, 23 TexReg 11159; amended to be effective March 21, 2000, 25 TexReg 2347